"This self-serve mentality undermines confidence in the economy as a whole, " Justice Minister Simonetta Sommaruga told the Swiss newspaper Sonntagsblick.

BBC: Novartis scraps payout to departing boss Daniel Vasella

Simonetta Sommaruga, Switzerland's justice minister, said adopting the new rules would be a "serious challenge" for Swiss business, but expressed confidence that the Alpine state's fabled competitiveness would not be undermined.

CNN: Swiss vote for executive pay curbs